2627 Robert St New Orleans, LA 70115
- Residential income homes
- 4,322 SF
Current Use by Public Records
- Residential income homes
Property Details for 2627 Robert St
- Property size
- 4,322 SF
- Property type
- Residential income homes
Description
This exceptional four-unit multifamily property, located at 2625-2627 Robert St in New Orleans, LA 70115, presents a compelling value-add investment opportunity. The property boasts a total of 4,322 square feet, comprised of four three-bedroom, two-bathroom units. Two units measure 1,087 square feet each, while the remaining two are slightly smaller at 1,074 square feet each. Currently, three of the four units are leased, generating a gross monthly income of $3,836. With rents significantly below market value, this presents a substantial opportunity to increase profitability. The property, built in 2012, is situated in a convenient location, steps away from Freret Street and Baptist Hospital. Each unit includes one parking space. The property is classified as a Class C building and is situated in an AE Flood Zone. The asking price is $570,000, translating to $142,500 per unit and $131.88 per square foot. The current occupancy rate stands at 75%. This two-story building offers a strong foundation for a savvy investor seeking to capitalize on the robust New Orleans rental market. The property's prime location and potential for rental income growth make it an attractive investment prospect.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- New Orleans
- County
- Orleans Parish
- State
- Louisiana
- Longitude
- -90.108
- Latitude
- 29.9384
